Batteries have become indispensable in so many ways. But, if we could find a way to make them cheaper, then they could do so much more. Second life EV battery recycling is an important way to do that. Although the logic behind this applies to more than just electric vehicle batteries, of course.
Optimizing the Second Lives of EV Batteries
The electric vehicle market has been growing steadily, although the up-front cost of EV batteries discourages many new customers. Finding second lives for them helps off-set the initial purchase price. However, this new industry is evolving slowly, as opportunities gradually whittle away challenges.
Repurposing, or finding second lives for used electric vehicle batteries, is more profitable than simply recovering their materials. This is because we can still dismantle and recycle their materials later in their life. EV batteries can last more than a decade, before their voltage can no longer power an electric vehicle.
But when they do reach that point, they still have a useful job to do. That’s where second life EV battery repurposing comes in, as technicians assess, disassemble, and reconfigure them for new applications. After that, the modified batteries can generate new revenue for their owners.
Recycling By Repurposing EV Batteries
A D Little predicts a steep growth in the EV battery repurposing industry, as more vehicles approach their operating lifespans. They suggest that by 2030, 17 gigawatts of EV batteries could become available for repurposing from cars, buses, trucks, and vans.
Precedence Research picks up the story, by predicting the second life EV battery recycling market will be worth US 12.42 billion dollars by 2034. Artificial intelligence will contribute to this growth, as it learns to analyze health and charge cycles, and predicts battery degradation and remaining useful life.
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